Addis Ababa, Ethiopia (19 May 2023)
Flintstone Engineering (Homes), a prominent construction and real estate company based in Addis Ababa, Ethiopia, has announced its plans to sell shares to the public starting from July 08, 2023. A total of 10 million shares will be available for purchase, priced at one thousand birr per share. Share ownership will range from a minimum of 20,000 to a maximum of 2 million birr.
The company has also devised a unique approach to utilizing the investment made through share purchases where shareholders will have the option to use their invested funds to purchase houses in the future. Flintstone Homes plans to calculate the value of the shareholders’ investment per square meter and provide a system through which they can become homeowners. In the meantime, a digital application is being developed to showcase the utilization of the funds collected through share sales and the generated profits.
Starting with a modest capital of 6 thousand birr provided in 1984 E.C., Flintstone Engineering has grown to undertake private and government projects worth billions. Apart from its involvement in various infrastructure projects across the country, Flintstone Engineering plans to build and deliver 10,000 houses to consumers within the next five years.
Source: Addis Maleda
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